The supply of valuable currency exchange is no longer relevant for the rich. The choice between banks and exchangers depends on your priorities: security, good exchange rate and reliability. The best exchange rate can be found either at banks or at exchange offices, and in both cases there may be prices for trading.
About those who have more advantages when exchanging currencies – at the bank and the exchanger – read in the review of RBC-Ukraine journalist Alik Sakhna.
Contents:
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There are more risks when exchanging currency
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Best course
There are more risks when exchanging currency
One of the main advantages is the ability to remove counterfeit bills. Unfortunately, it is very difficult to prove the fact of the fact, especially since the bill does not have a number or other identifying marks, as revealed by RBC-Ukraine, the head of expert analysis for the Ukrainian Analytical Center Boris Kushniruk. In other words, if you realize that the bill is counterfeit, the exchanger or the bank can simply throw up their hands, as there is no mechanism to confirm the transaction.
“This does not mean that counterfeit banknotes are a common phenomenon, but sometimes they are stolen. Sometimes it does not mean that the bank or the exchanger, or other cashiers, who can be counted to the smallest extent,” – explains Kushniruk.
The expert adds that dollars are more often fragmented than euros. Kushniruk recommends that you carefully check banknotes for the presence of a special sign if you are purchasing currency from a bank. I also suggest that before traveling to Europe, it is better to buy euros in Ukraine in order to avoid the unprofitable exchange rate when exchanging dollars locally.
“If you want to save money, you can consider buying monetary gold. However, there are risks here: gold can also be subdivided. The best option is to buy it from national banks, where there is greater control over the cost,” he says.
Director of the National Institute for Strategic Studies Yaroslav Zhalilo still respects that exchanging currency in a bank is safe for many reasons. First of all, banks go through all the procedures for checking banknotes, so, in other words, the risk of removing a crushed or damaged banknote is significantly lower. In other words, physical security in the bank is the same: the level of illegal activities in the banking branch is minimally equal to that of exchangers.
“In addition, banks have strict control over the availability of currency. If it is in the cash register, you can receive it with greater confidence. In addition, exchangers often practice manipulation: sell to whom, not to whom, and if there is a lot of drinking, the currency can be taken,” he adds.
Yaroslav Zhalilo explains that if you have a check, it’s very difficult to convey that the bill itself was sold to you. Banks follow the cash principle: if they withdraw new currency, their number is recorded, but when selling to a client, the data is not saved. Therefore, as soon as you reveal the details, the chances of recovery are minimal.
Best course
Boris Kushniruk confirms that the difference between the purchase and sale of currency (spread) is often worse in exchange offices, but Yaroslav Zhalilo does not agree with this, as it seems that in exchange offices the exchange rate is suddenly increasing, in fragments the stench adds to the price premium.
“However, the spread at banks (the difference between the buying and selling rate – ed.) may be greater than at other exchangers. However, at banks it may be higher, since exchangers often work for agency services with banks, through which their exchange rates are deposited with bank rates,” says Yaroslav Zhalilo.
It is a pity that at different banks the exchange rate can vary greatly, so it cannot be confirmed that in exchange offices it is always better to buy or sell currency. In other words, it is important to look for and choose the shortest option.
However, banks often want a more stable exchange rate, but may add commissions. Great banks, such as PrivatBank, Oschadbank and Raiffeisen, should offer competitive rates. Exchangers often offer the best exchange rate, especially if they know the exchange rate of the point in the center of the place. However, it is important to check the reliability of the exchange office to avoid fraud.
Moreover, you can buy currency not only from branch banks and exchange offices, but also online. When you buy currency online, you get everything first and there is a guarantee that you won’t spend it on money. Moreover, online platforms offer even more profitable courses, especially for large sums.
Let’s guess in which currency it is better for Ukrainians to save money in 2025: dollars or euros.
When preparing the material, exclusive comments were made by the head of the expert-analytical head of the Ukrainian Analytical Center Boris Kushniruk and the director of the National Institute of Strategic Research Yaroslav Zhalil, as well as data from the website of the National Bank of Ukraine.